French deeptech startup Syntetica has raised $30 million in Series A funding from Lululemon and MAS Holdings, one of the world’s largest apparel manufacturers.
This is Lululemon’s second investment in a nylon-recycling startup, after its partnership with Australia’s Samsara Eco.
Recycled nylon makes up about 2% of the global nylon market. The new funding will help build Syntetica’s first plant with Michelin.
Lululemon usually does not announce supply chain projects two years in advance. With Syntetica, the partnership was set up before any investment.
The Paris-based deeptech company that recycles nylon textile waste has closed a $30 million Series A round led by Bpifrance’s Ecotechnologies 2 fund.
